ManpowerGroup (NYSE:MAN) Sets New 1-Year Low – Here’s Why

ManpowerGroup Inc. (NYSE:MAN) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $47.29 and last traded at $52.92, with a volume of 970749 shares traded. The stock had previously closed at $48.72.

Wall Street Analysts Forecast Growth

MAN has been the topic of several analyst reports. Truist Financial reissued a “hold” rating and set a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a report on Friday, January 31st. Barclays lowered their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group cut their price objective on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.33.

ManpowerGroup Trading Up 8.6 %

The firm has a fifty day simple moving average of $56.86 and a two-hundred day simple moving average of $60.79. The stock has a market cap of $2.47 billion, a PE ratio of 17.70 and a beta of 1.28. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors have recently modified their holdings of MAN. Harbor Capital Advisors Inc. grew its position in ManpowerGroup by 0.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock worth $2,745,000 after acquiring an additional 234 shares during the last quarter. Vident Advisory LLC raised its stake in ManpowerGroup by 2.8% during the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider’s stock valued at $618,000 after buying an additional 290 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of ManpowerGroup by 11.8% in the third quarter. Captrust Financial Advisors now owns 3,260 shares of the business services provider’s stock worth $240,000 after purchasing an additional 344 shares during the last quarter. Twin Capital Management Inc. grew its holdings in shares of ManpowerGroup by 1.7% in the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider’s stock worth $1,495,000 after acquiring an additional 439 shares during the period. Finally, Bank of Nova Scotia grew its holdings in shares of ManpowerGroup by 8.8% in the fourth quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider’s stock worth $328,000 after acquiring an additional 458 shares during the period. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.